COMP 5.2 What is a protected claim?

A protected claim is:

1. (1)

   a claim for a protected deposit or a protected dormant account 6(see COMP 5.3); or

2. (2)

   a claim under a protected contract of insurance (see COMP 5.4); or

3. (3)

   a claim in connection with protected investment business (see COMP 5.5); or3

4. (4)

   a claim in connection with protected home finance mediation5 (see COMP 5.6); or34

   5
5. (5)

   a claim in connection with protected non-investment insurance mediation (see COMP 5.7).42

7Notwithstanding COMP 5.2.1 R, where the relevant person in default:

1. (1)

   is an authorised professional firm that is subject to the rules of the Law Society (England and Wales) or the Law Society of Scotland; and

2. (2)

   with respect to its regulated activities, does not participate in the relevant society's compensation scheme:

a claim with respect to that person is only a protected claim if, when the basis for the claim arose, that person did not participate in the relevant society's compensation scheme with respect to its regulated activities.